Icahn ups Nuance stake to 18.72%, shares +1.5% AH

Carl Icahn is having a busy day. Shortly after announcing a proposal for an Apple buyback vote, the billionaire activist investor discloses he has raised his stake in Nuance (NUAN) to 18.72% from a prior 16.9%. (13D)

The new vote of confidence comes a couple weeks after Nuance tumbled due to the disappointing guidance provided with its FQ4 report, and two months after Icahn announced an agreement with the voice recognition software leader that landed him two board seats.

Shares remain down 29% from where they traded when Icahn first disclosed a stake (then 9.3%) in Nuance on April 1.

Definitely a situation in which corporate activism is necessary. This is a company that needs a realignment of values, with shareholder interests and employee morale at the forefront. Management compensation is way out of line and employees know it.